PUNJAB AND SIND BANK vs ANURAG SHARMA AND ORS on 5 November 2026

**FINAL ORDER**

This original application has been filed by the applicant bank on 28.10.2020 under Section 19 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 against the defendants for recovery of a sum of Rs.33,57,257.60 (Rupees Thirty Three Lacs Fifty Seven Thousand Two Hundred Fifty Seven & paisa Sixty only) as on 30.09.2020 together with pendentelite and future interest @10.95% per annum with monthly rest plus @2% penal interest till the date of realization and costs. Further, the name of Sh.Vishal Sinha was substituted as authorized representative in place of erstwhile ARs for the applicant bank.

2. The brief facts of the case are that at the request of defendant no.1 along with Sh.Gopal Sharma (since deceased) as co-borrowers, the applicant bank sanctioned housing loan facility of Rs.19,00,000/- (Rupees Nineteen Lacs only) on 03.05.2012 @11.75% interest per annum to be repayable in 240 Equated Monthly Installments of Rs.21,500/- for purchase of Property bearing No.F-1, First Floor, Plot No.901-A, Shalimar Garden Extension-I, Sahibabad, Ghaziabad, UP. The defendant no.1 also purchased insurance policy from Bajaj Allianz Life Insurance Company Ltd. The defendant no.3 stood as guarantor for housing loan facility sanctioned by applicant. In case of default in repayment of instalments, the defendants sd- agreed to pay penal interest on defaulted amount over the agreed rate of interest.

3. That in order to avail the housing loan facility, the defendant no.1 and his father Sh.Gopal Sharma submitted loan application dated 10.04.2012 along with defendant no.3 executed Sanction Letter, Form No.15(R), Form No.103/291/412, Form no.106, Form no.199, Form No.256(RR) on 03.05.2012 towards the applicant bank. The defendant no.3 executed Deed of Continuing Guarantee and other documents for security housing loan facility.

4. The defendant no.1 along with his father availed the housing loan and purchase the property in the name of Sh.Gopal Sharma by virtue of Sale Deed registered with Sub-Registrar-III, Ghaziabad, UP bearing document no.5424, Book No.1, Vol. No.8222 on Page 89 to 122 dated 09.05.2012 and created equitable mortgage of property being Flat No. F-1, First Floor, Plot No.901-A, Shalimar Garden Extension-I, Sahibabad, Ghaziabad, UP by executing Form No.84-A(R) on 19.05.2012 in favour of applicant bank.

5. It has been submitted by the applicant bank that after availing the housing loan facility, the defendants failed to comply with loan agreement entered despite several requests and defaulted in payment of monthly installments in time to the applicant bank. The applicant bank classified the account as NPA on 31.12.2015 as per RBI guidelines but defendants made no efforts for regularization of the account. Hence, the applicant bank has approached this Tribunal for recovery of their dues.

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6. Notice under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 dated 22.01.2016 was issued upon defendants to liquidate the outstanding but no efforts made for regularization. The applicant bank issued possession notice u/s 13(4) dated 06.07.2016 and took symbolic possession and duly published in newspapers. The defendant no.1 informed the bank about death of his father Sh.Gopal Sharma on 14.02.2017 leaving behind his wife and two sons i.e. defendant no.2(a) to 2(c) as legal heirs and requested for revival of loan on 20.02.2018.

7. The defendant no.2(a) and 2(c) filed suit titled 'Madhu Sharma & Ors Vs Anurag Sharma before District Court, Ghaziabad seeking declaration, injunction and other reliefs against bank to defeat its right which is not maintainable and as such barred by Section 34 of SARFASI Act 2002 and applicant bank received notice and filed reply and matter is pending.

8. The applicant bank issued fresh notice on 16.09.2020 to pay outstanding dues but defendants vide its reply dated 28.09.2020 refused to pay the amount.

9. Notice of this O.A. were issued to the defendants and despite proper service through publication in newspapers, the defendants have chosen to absent from the proceedings. As per order dated 06.09.2022, the defendants have been proceeded ex-parte as not appeared before the Tribunal and even no written statement, evidence and affidavit of assets have been filed by the defendants.

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10. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Ms Jyoti, authorized representative of the applicant bank who has proved the documents such as Power of Attorney, Loan Application, Form No.15(R), Form No.103/291/412, Form no.106, Form no.199, Form No.256(RR), Copy of Sale Deed dated 09.05.2012 and Form No.84-A(R), Demand Notice u/s 13(2), Newspaper Publication, Revival Letter, Certified Statement of Account alongwith Certificates under Section 2A(b) of Banker's Book Evidence Act 1879 and Section 65B of Indian Evidence Act marked as Ex.AW-1/1 to Ex.AW-1/17.

11. The applicant bank has fully corroborated the averments made in the O.A. Even otherwise the whole case of the applicant bank is based on the documents and the same have been duly proved.

12. The case filed by the applicant bank gone unrebutted and there is no question of disbelieving the case of the applicant bank and the applicant bank has proved its case beyond reasonable doubts.

13. In the light of the above discussions and documents on record, the Original Application deserves to be allowed.

ORDER

I, allow this OA and direct the defendants to pay to the applicant bank within a period of 30 days, jointly or severally, a sum of Rs.33,57,257.60 (Rupees Thirty Three Lacs Fifty Seven Thousand Two Hundred Fifty Seven & paisa Sixty only) as on 30.09.2020 along with pendentelite and future interest @10.95% per annum with monthly rests from 28.10.2020 and costs failing which the aforesaid amount shall be recovered sd- from sale of Property bearing No.F-1, First Floor, Plot No.901-A, Shalimar Garden Extension-I, Sahibabad, Ghaziabad, UP. In case of shortfall, the remaining amount shall be recovered from sale of movable and immovable properties of the defendants.

(II) The recovery certificate be issued forthwith and be sent to the Recovery Officer, Debt Recovery Tribunal-I, Delhi.

(III) Parties are directed to appear before the Recovery Officer, DRT I, Delhi on 05.01.2027.

(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.

**(GOVIND BALLABH SHARMA)** **PRESIDING OFFICER** **DRT-I, DELHI**

(Dictated and pronounced in open court) Dated: 05.11.2026